New Hospitals and Health Care Providers Join Federal Initiative That Cuts Costs and Puts Patients at the Center of Their Care
Today, the Centers for Medicare & Medicaid Services (CMS) announced 121 new participants – representing 49 states and the District of Columbia – in an innovative initiative – Medicare Accountable Care Organizations (ACOs) – designed to improve the care patients receive in the health care system and lowers costs.
Mount Sinai Care, LLC. (ACO for the Mount Sinai Health System) was selected as one of nearly 150 renewing Medicare Shared Savings Program Accountable Care Organizations (ACOs), providing Medicare beneficiaries with access to high-quality, coordinated care across the United States, the Centers for Medicare & Medicaid Services (CMS) announced today. That brings the total to 434 Shared Savings Program ACOs serving over 7.7 million beneficiaries.
Doctors, hospitals and health care providers establish ACOs in order to work together to provide higher-quality coordinated care to their patients, while helping to slow health care cost growth. Mount Sinai Care, LLC. will be one of 434 ACOs participating in the Shared Savings Program as of January 1, 2016. Beneficiaries seeing health care providers in ACOs always have the freedom to choose doctors inside or outside of the ACO. ACOs receive a portion of the Medicare savings generated from lowering the growth in health care costs as long as they also meet standards for high quality care.
“People across America are going to be better cared for when they go to their health care providers, because these hospitals and providers have made a commitment to innovation, a commitment to change how they do business and care for patients,” HHS Secretary Sylvia Matthews Burwell said. “Medicare, and the health care system as a whole, is moving toward paying providers based on the quality, rather than just the quantity of care they give patients. The three new ACO initiatives that are being launched today mark an important step forward in this effort.”
Since ACOs first began participating in the program in early 2012, thousands of health care providers have signed on to participate in the program, working together to provide better care to Medicare’s seniors and people with disabilities. The new and renewing ACOs will bring approximately 15,000 additional physicians into the ACO program starting January 1, 2016.
ACOs are delivering better care, and they continue to show promising results on cost savings. In 2014, they had a combined total net program savings of $411 million for 333 Medicare Shared Savings Program (Shared Savings Program) ACOs and 20 Pioneer ACOs. Based on 2014 quality and financial performance results for Shared Savings Program ACOs who started the program in 2012, 2013, and 2014, ACOs that reported in both 2013 and 2014 improved on 27 of the 33 quality measures, including patients’ ratings of clinicians’ communication, beneficiaries’ rating of their doctors, screening for tobacco use and cessation, screening for high blood pressure, and Electronic Health Record use. Shared Savings Program ACOs also outperformed group practices reporting quality on 18 out of 22 measures.
Ultimately, today’s announcement is about delivering better care, spending dollars more wisely, and having healthier people and communities. ACOs drive progress in the way care is provided by improving the coordination and integration of health care, and improving the health of patients with a priority placed on prevention and wellness. More information about the Shared Savings Program is available here.
For a list of the new and renewing ACOs announced today, visit the Shared Savings Program News and Updates webpage.
About the Mount Sinai Health System
The Mount Sinai Health System is an integrated health system committed to providing distinguished care, conducting transformative research, and advancing biomedical education. Structured around seven hospital campuses and a single medical school, the Health System has an extensive ambulatory network and a range of inpatient and outpatient services—from community-based facilities to tertiary and quaternary care.
The System includes approximately 6,100 primary and specialty care physicians; 12 joint-venture ambulatory surgery centers; more than 140 ambulatory practices throughout the five boroughs of New York City, Westchester, Long Island, and Florida; and 31 affiliated community health centers. Physicians are affiliated with the renowned Icahn School of Medicine at Mount Sinai, which is ranked among the highest in the nation in National Institutes of Health funding per investigator. The Mount Sinai Hospital is ranked as one of the nation’s top 10 hospitals in Geriatrics, Cardiology/Heart Surgery, and Gastroenterology, and is in the top 25 in five other specialties in the 2014-2015 “Best Hospitals” issue of U.S. News & World Report. Mount Sinai’s Kravis Children’s Hospital also is ranked in seven out of ten pediatric specialties by U.S. News & World Report. The New York Eye and Ear Infirmary of Mount Sinai is ranked 11th nationally for Ophthalmology, while Mount Sinai Beth Israel is ranked regionally.
For more information, visit http://www.mountsinaihealth.org/ or find Mount Sinai on Facebook, Twitter and YouTube.
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